$NVDA Extreme Peak Pattern

Yesterday's Top Gainer for the NASDAQ has found support at a precise technical level. This is usually technical professional traders. There could also be a few Dark Pools in the mix.

snapshot

DPO Cycle Chart: The Detrending Price Oscillator I use to show the long-term cycle of a stock shows an Extreme Peak which needs to pattern out with the stock shifting sideways for a while. The Extreme Peak is not necessarily an exhaustion of trend pattern.

Between 2007 and 2020, AAPL had 4 Extreme peaks, corrected and resumed the uptrend between each peak. Troughs were shallow during those years.

NVDA needs to shift into a platform or other sideways trend to pattern out the Extreme Upward Cycle Peak. Otherwise, at some point, the over-speculated price will become a correction on the short-term or intermediate-term trend. This means that NVDA can move higher for a while BUT this is not an ideal long-term entry level until it patterns out that extreme peak.
AAPLcycleanalysisdetrendingpriceoscillatorEconomic CyclesTechnical IndicatorslongtermanalysismonthlychartMultiple Time Frame AnalysisNVDAsupport_levelTechnical Analysis

Martha Stokes, CMT
ttrader.im/tv-candlesticks

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